I don't get this new math

by Drew McLellan

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January 8th, 2007 · 4 Comments · Marketing, Strategy

Let’s see if I have this right.

You make most of your income from current customers
+ Your current customers are happy with you, so they are predisposed to buy again
+ Your current customers know you and take your calls
+ Your current customers have other needs

= You invest 90+% of your marketing budget on chasing after strangers/prospects.

Help me see how that adds up again?

Photo courtesy of flickr.com from the works of lacadaz.

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4 Comments so far ↓

Copywriting Maven // Jan 8, 2007 at 9:54 pm

Dollars to get ‘em, pennies to keep ‘em – I love doing the unsexy, unglamourous work of renewal series and invoice stuffer. Doesn’t take much to make this stuff work.

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Drew McLellan // Jan 9, 2007 at 12:33 am

Roberta,

Discipline to not always chase the sexy new thing or potential client is one of the toughest elements of marketing for most clients.

They just can’t resist the lure of something new.

Drew

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Simon // Jan 9, 2007 at 3:14 pm

Yeah, it doesn’t add up. And a business can be of so much more service to a client if it figures out what else that client might need.

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Drew McLellan // Jan 9, 2007 at 9:04 pm

Simon,

The truth is that most businesses are either too afraid or too arrogant to ask their clients what they want.

And in that scenario, everyone loses.

Thanks for adding to the conversation!

Drew

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